Home News “Call the police” – VP Jagdeo urges public as Ponzi Scheme mastermind...
…public urged to report fraudster; wanted bulletin issued
Vice President Bharrat Jagdeo has sounded the alarm about the return of notorious Ponzi scheme mastermind Yuri Garcia-Dominguez, and is urging the public to immediately report to the police any encounters with the fraudster as he emphasised the gravity of the ongoing financial scam.
The Guyana Police Force on Wednesday issued a wanted bulletin for Dominguez, a Cuban national accused of orchestrating one of the largest Ponzi schemes in Guyana’s history. Dominguez is wanted in connection with 58 new fraud charges, adding to the staggering 150 charges he and his wife Ateeka Ishmael already face.
Between August 27, 2020 and September 10, 2021, Dominguez and Ishmael allegedly swindled hundreds of Guyanese persons out of billions of dollars by operating under false pretences and without proper financial registration.
Speaking at his weekly press conference on Thursday, Dr. Jagdeo expressed outrage that Dominguez, despite being wanted by the police, has somehow managed to re-enter the country, and is actively seeking out new victims.
“This crook, this fraudster, rip people off…several elderly people and others. He told them if they invest more money with him, they can get back the money that they lost; that he has this money in some crypto scheme; and all sorts of fraudulent talk. You were warned about it. Why would you put your money with fraudsters?” Dr Jagdeo warned.
With Dominguez reportedly reactivating his fraudulent schemes, Jagdeo is urging the public to stay vigilant and immediately report to law enforcement any encounters with him or his associates.
According to the Vice President, Dominguez has been misleading people with promises of obtaining a financial licence if the PNC-led APNU (A Partnership for National Unity) returns to office. He has called on APNU to publicly distance itself from Dominguez.
“Anybody associated with him comes to you, call the police! Go to the police now, and let’s get them locked up… He’s been telling people that when APNU comes back into office, he is going to get a licence. Well, two things will happen: APNU will not come back into office, and he’ll go to jail. I hope they catch him and jail him.
“For the sake of the people of this country – this is outside of politics – they need to disassociate themselves from this guy. APNU, they need to do that, because he’s using them as the cover, unless they endorse it,” the Vice President said.
Yuri Garcia-Dominguez and Ateeka Ishmael are the principals of Accelerated Capital Firm Incorporated.
Sometime in 2020, the company was forced to cease all operations in Guyana after authorities discovered that it was operating without a licence from the Guyana Securities Council.
Dominguez and his wife were first arrested in August 2020. They are currently facing more than 100 charges for obtaining money by false pretence; operating a Pyramid Scheme, and operating a financial institution without the requisite registration.
They are currently out on more than $30 million bail, and have vehemently denied being involved in a Ponzi scheme.
In October 2020, the couple’s lawyer had said that his clients would commence the process of repaying investors. However, to date, only $3 million of the $4 billion has reportedly been returned.
Dominguez’s last known address is Lot 242 Track “A” Coldingen, East Coast Demerara, but authorities believe he is on the move, targeting fresh victims with false promises of massive returns on investments.
Anyone who has information on the whereabouts of Dominguez is asked to contact the police on telephone# 227-1149, 225-8196, 227-1611, 268-2328, 225-6978 and 225-8196; or do so at the nearest police station. Any information provided would be treated with strict confidentiality.
